Global Traditional Wound Management Market, by Product Type (Bandages, Gauzes, and Sponges), By Application (Skin and Diabetic Ulcers, Burns, Surgeries, Trauma, and Others (skin cuts, primary dressings etc.)), By End User (Hospital, Clinics, Homecare Setting, and Ambulatory Surgical Centers) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 2,080.8 Million in 2023 and is expected to exhibit a CAGR of 3.4% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The traditional wound management market is expanding at a faster rate because to the rising occurrence of both acute wounds like burns and trauma as well as chronic wounds, like diabetic foot ulcers, venous leg ulcers, pressure ulcers, and arterial ulcers. Other reasons that contribute to the market's expansion include the growing elderly population and the use of Traditional Wound Management products in a particular surgical wound. In addition, the increasing awareness about the benefits of traditional wound management techniques, such as faster healing and reduced risk of infection, is also driving the market growth. Moreover, advancements in technology have led to the development of innovative traditional wound management products that offer improved efficacy and ease of use, further fueling the market expansion.
Global Traditional Wound Management Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a positive impact on the global traditional wound management market because, during COVID-19 people avoid to visit the clinics and instead opt for traditional wound management methods at home. This shift in behavior led to an increased demand for traditional wound management products and techniques. Additionally, the accessibility and affordability of these methods made them a preferred choice for many individuals during the pandemic.
Global Traditional Wound Management Market: Key Developments
The launch of new type of bandages is one of the key factor for the market expansion of traditional wound management. For instance, on January 11, 2023, H.B. Fuller, one of the world’s leading adhesives suppliers, announced the launch of Swift melt 1515-I, the first bio-compatible product compliant in IMEA – India, Middle East, and Africa. The product is for medical tape applications to be used in stick-to-skin under unique climatic conditions, such as the high temperatures and humidity in the India sub-continent.
Browse 28 Market Data Tables and 22 Figures spread through 175 Pages and in-depth TOC on “Global Traditional Wound Management Market”- Forecast to 2030, Global Traditional Wound Management Market, by Product Type (Bandages, Gauzes, and Sponges), By Application (Skin and Diabetic Ulcers, Burns, Surgeries, Trauma, and Others (skin cuts, primary dressings etc.)), By End User (Hospital, Clinics, Homecare Setting, and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
http://www.coherentmarketresearch.in/market-insight/traditional-wound-management-market-3426
Key Takeaways of the Global Traditional Wound Management Market:
- The global traditional wound management market is expected to exhibit a CAGR of 3.4% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the global traditional wound management market. The tradional wound management is the traditional wound management is the process of cleaning the wound, applying dressings, and monitoring for infection. It is still in used in village areas and most of the healthcare facilities that lack advanced medical equipment and resources. Traditional wound management is often performed by healthcare providers who have been trained in these techniques. It involves using natural remedies and traditional healing practices to promote wound healing and prevent complications. This approach is deeply rooted in cultural beliefs and has been passed down through generations, making it an integral part of healthcare in these communities.
- Among application, the bandages segment is expected to grow in the global traditional wound management market over the forecast period due to the launching of new products. For instance, in May 2021, Johnson & Johnson Services, Inc. launched BAND-AID Brand OURTONE bandages in three brown shades— offering more inclusive bandage options for communities of color— the company also looked for ways to support the healthcare professionals across the country who need it most. As part of the OURTONE launch, BAND-AID Brand has partnered with the National Black Nursing Association (NBNA) and the Foundation of the National Student Nurses' Association (FNSNA), due to this the demand for traditional wound management is expected to grow significantly in the forecast years.
- Among region, North America is expected to be the dominant region in the global traditional wound management market, owing to the increasing launch of products. For instance, Advances in Wound Care (New Rochelle) Journal 2021, stated that, chronic wounds impact the quality of life (QoL) of nearly 2.5% of the total population in the U.S., and the management of wounds has a significant economic impact on health care. Chronic wounds not only cause physical discomfort but also lead to psychological distress, affecting individuals' overall well-being. Additionally, the financial burden of managing chronic wounds includes the cost of specialised treatments, prolonged hospital stays, and frequent medical consultations.
- Major players operating in the global traditional wound management market include Smith & Nephew plc, B. Braun Melsungen AG, Johnson & Johnson Pvt. Ltd., Medtronic Plc., Cardinal Health, Derma Sciences Inc., Paul Hartman AG, Molnlycke Health Care, Medline Industries, Inc., DUKAL Corporation, BSN Medical, H.B. Fuller, CURAD, and 3M Health Care.
